Banks company South Indian Bank announced Q2FY25 results Financial Highlights: Operating profit for the quarter increased by 19.51% from Rs 460.44 crore in Q2FY24 to Rs 550.25 crore in Q2FY25. Net profit of the Bank for quarter is up by 18.15% from Rs 274.81 crore in Q2FY24 to Rs 324.69 crore in Q2FY25. Gross NPA came down by 56 bps from 4.96% to 4.40% on YoY basis. Net NPA dropped by 39 bps from 1.70% to 1.31% on YoY basis. Net interest income went up from Rs 830.58 crore to Rs 882.28 crore, registering a growth of 6.22% on YoY basis. Non Interest income went up from Rs 355.77 crore to Rs 449.47 crore, registering a growth of 26.34% on YoY basis. Return on Assets increased by 10 bps from 0.97% to 1.07% YoY basis. PCR excl. write off increased by 447 bps from 66.77% to 71.24% YoY basis. PCR including write off increased by 290 bps from 77.82% to 80.72% YoY basis. Deposits Retail Deposit grew by Rs 8,204 crore from Rs 93,448 crore to Rs 1,01,652 crore, showing an increase of 8.78% on YoY basis. NRI Deposit grew by Rs 1,703 crore from Rs 28,785 crore to Rs 30,488 crore, showing an increase of 5.92% on YoY basis. CASA grew by 7.81% on YoY basis with growth in Savings Bank by 4.44% and Current Account by 25.02% respectively. Advances Gross advances grew by Rs 9,767 crore from Rs 74,947 to Rs 84,714 crore, showing an increase of 13.03% on YoY basis. Corporate Segment went up by Rs 6,470 crore from Rs 27,491 crore to Rs 33,961 crore, showing an increase of 23.54% on YoY basis. Share of A and above rated accounts in large corporate segment grew from 96.1% to 99.6% on YoY basis. Personal Loan book grew by Rs 190 crore from Rs 2,107 crore to Rs 2,297 crore, showing an increase of 9.02% on YoY basis. Gold Loan portfolio went up by Rs 1,611 crore from Rs 14,998 crore to Rs 16,609 crore, showing an increase of 10.74% on YoY basis. Housing Loan grew by Rs 2,090 crore from Rs 4,982 crore to Rs 7,072 crore registering a growth of 41.94%. Vehicle Loan grew by 18.11% YoY from Rs 1,548 crore to Rs 1,828 crore. P R Seshadri, MD & CEO of the Bank, stated that the strategy adopted by the Bank continues to enable the business performance. During the period, Bank registered growth in all the desired segments with a focus on quality asset across all verticals Corporate, Housing loan, Auto Loan, Personal Loan, Gold Loan etc. He also stated that, in line with the strategic intent of the Bank viz, “Profitability through quality credit growth”, the Bank could on board fresh advances with low risk profile. Capital adequacy of the Bank stood at 18.04% in September 2024 compared to 16.69% in September 2023. The Bank’s financial results include the financial results of its wholly owned subsidiary SIBOSL. Result PDF